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Redistribution of BelCel shares

Author: Mikhail Doroshevich

04/01/2005

According to the decision of Belarusian government taken in the end of 2003, Ministry of communications and Ministry of Economy has initiated a new agreement between BelCel (trademark DIALLOG) shareholders. The new agreement delivers up to the Republic of Belarus 47 per cent of the company with Infobank (Trustbank) holding reduced to 3-5 per cent and Comstrut International (CIB BV ) holding reduced by approximately 2 per cent.

Prior to that Dutch company CIB BV had 50% shareholding, Infobank - 17%, and state owned Minsk city telephone network (MGTS) and Minskobltelekom - 29,79 and 3,3 per cent shareholding respectively. Infobank came to Belcel in August, 2002 and bought 17% per cent shareholding from MGTS and Minskobltelekom.

BelCel was the first mobile operator in Belarus. Since May 1993, the company is rendering NMT standard services, since February 2003 - IMT-MC-450 (cdma2000). By November 2004 BelCel had 78 thousand subscribers with almost 4 thousand NMT subscribers among them.

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